GoPro, Inc. (NASDAQ:GPRO) Short Interest Up 58.6% in February

GoPro, Inc. (NASDAQ:GPRO) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 7,520,000 shares, an increase of 58.6% from the January 31st total of 4,740,000 shares. Currently, 6.0% of the shares of the company are sold short. Based on an average daily volume of 2,410,000 shares, the days-to-cover ratio is presently 3.1 days.

Wall Street Analyst Weigh In

GPRO has been the topic of a number of recent analyst reports. StockNews.com cut GoPro from a “hold” rating to a “sell” rating in a report on Friday. Wedbush reissued a “neutral” rating and set a $1.50 price target on shares of GoPro in a report on Friday, January 31st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its position in GoPro by 0.5% in the third quarter. State Street Corp now owns 2,533,952 shares of the company’s stock worth $3,446,000 after acquiring an additional 11,454 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of GoPro by 10.5% during the fourth quarter. SG Americas Securities LLC now owns 127,323 shares of the company’s stock valued at $139,000 after buying an additional 12,147 shares during the period. Picton Mahoney Asset Management boosted its position in shares of GoPro by 77.4% during the fourth quarter. Picton Mahoney Asset Management now owns 27,908 shares of the company’s stock valued at $30,000 after buying an additional 12,172 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of GoPro by 153.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company’s stock valued at $26,000 after buying an additional 14,485 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of GoPro by 26.0% during the fourth quarter. Wells Fargo & Company MN now owns 73,903 shares of the company’s stock valued at $81,000 after buying an additional 15,255 shares during the period. Hedge funds and other institutional investors own 70.09% of the company’s stock.

GoPro Price Performance

Shares of GPRO stock traded down $0.01 during trading hours on Friday, hitting $0.75. The stock had a trading volume of 2,060,549 shares, compared to its average volume of 2,927,880. GoPro has a one year low of $0.73 and a one year high of $2.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 0.87. The stock’s 50-day moving average price is $0.99 and its two-hundred day moving average price is $1.18. The stock has a market capitalization of $115.51 million, a price-to-earnings ratio of -0.26 and a beta of 1.51.

GoPro (NASDAQ:GPRO) last issued its earnings results on Thursday, February 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.12). GoPro had a negative return on equity of 55.77% and a negative net margin of 53.94%. Equities analysts forecast that GoPro will post -0.25 EPS for the current year.

GoPro Company Profile

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.